What is agreed?

Answer 1

This means that someone has entered into an agreement with someone else (shaken hands on) to exchange some goods or provide a service for some fixed amount of money. In some countries a verbal agreement (provided it can be proved) is legally binding while in other countries it can not be legally enforced (although there is a moral obligation to keep your word). It is always very important to be clear what you are and are not agreeing to.

Answer 2

"Agreed" means that there is a consensus or a mutual understanding between two or more parties. It indicates that all parties involved have come to a decision or have reached an agreement on a certain matter.